Husky keeps Transocean rig for Canadian job

Canadian oil firm Husky has booked the Henry Goodrich rig for another year for a job off the country’s east coast. The contract is expected to start in the fourth quarter. Transocean said the contract backlog was $100 million.  

Oil & Gas

Husky Energy considers selling assets after cutting jobs

Husky Energy Inc. plans to keep cutting jobs after eliminating 1,400 positions, the most disclosed by a Canadian energy company in the oil-price slump. Job cuts have represented 80 percent contractors and 20 percent employees and will continue, Husky said in a statement Friday, reporting its biggest-ever quarterly loss. The Canadian producer and refiner controlled by Hong Kong billionaire Li Ka- Shing also outlined plans to pay its dividend in stock, consider asset sales and extend a companywide salary freeze started at the end of 2014. The shares fell 5.5 percent to C$19.16 at 9:36 a.m. in Toronto.


Subsea still on table for Husky’s White Rose Extension

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has said that Husky Energy’s Development Plan Amendment for the White Rose Extension Project, offshore Newfoundland, has received conditional approval from the Board along with the federal and provincial governments.